If you do a Google search for “business ideas” you will quickly be overwhelmed and confused by articles offering lots of random suggestions. And while some ideas may be inspiring, they also miss the most obvious – and easiest – way to generate revenue as an entrepreneur.
Become a professional service provider based on the skills you already have.
Think you can not do it? Think again. Because if you ever excel and enjoy related tasks, you can sell that service to organizations and individuals.
Following this process helps you avoid many related risks Entrepreneurship. It helps you avoid imposter syndrome by doing something you know you’re good at, and since you’ve been paid for them, you know there’s a market for your services.
So stop looking externally for business ideas. Everything you need to start a business is already within you. Here’s a three-step process to get you started.
Define your genius zone
It’s time to pay, and the first step is to determine your Genius Zone, which is the task you feel qualified to perform and enjoy. This term comes from the book The Big Leap by Gay Hendricks and I will accompany you in the process of finding you today.
We start by gaining a basic understanding of the various competence zones.
Incompetence: You are not good at these things and don’t want to be
Competence: You can perform these tasks but others can do them as well
advantages: You can do this activity very well but it may not be as much as you want.
Genius: This is an activity that you love and want to continue to develop. You can talk about them for hours and not get bored. This is the service you offer to the client.
Next, open this spreadsheet. In Column E write down all the organizations you work for. Once you have completed that, write down all the main tasks and activities you performed in each organization in Column F. This also includes the tools and processes involved with each role, and you can probably pick up most of this information from your resume or LinkedIn profile. .
Now it’s time to assign all these tasks and activities to various Competency Zones. You will want to be very honest with yourself here. In most cases you should have a handful of activities in your Genius Zone, a few more in your Excellence Zone, and even more in the rest zone.
You can see an example from your worksheet below.
Based on the example above, this person could be a consultant who helps organizations plan their Facebook advertising campaigns. We will go deeper into potential service offerings next.
Identify the specific services you are selling
Now that you’ve identified the skills you want to monetize, it’s time to create a service based on these skills. I created an ACTION business idea model to help you quickly determine which service you want to offer.
This can be scary if we are talking about your taxes, but it is very useful if you provide it as a service for an organization or an individual. Based on your genius zone, this is a step-by-step approach you use to analyze a company or process. Your main goal here is to identify areas of improvement or opportunity.
Need help doing your audit? Watch the step-by-step video I created.
This includes providing your opinions, analysis, and recommendations to organizations or individuals based on your own expertise. Fortunately, you can use the same pre-established process for your audit.
You will help individuals or organizations develop the specific skills they need to do their jobs. This is different from consulting, but somewhat related. Maybe during an audit or consultation you discovered they need to start leveraging a new process, but right now they don’t know how. That’s where you come in to provide training.
This is where you help your client implement the tools or team needed to achieve it goal. It could be onboarding a new device or even choosing the right vendor to partner with.
This is one of my favorite ways to make money. With your retainer continue to provide advice and services based on your area of expertise. But you won’t have a specific project you’re working on. You are only there to answer questions whenever they arise. I highly recommend offering retainers at the end of any project so you can continue to generate revenue from your clients.
By design this is the most flexible part of the model. What ideas can you imagine based on the organization, its goals and how you can creatively help them achieve the desired results?
I will give you an example here. I made an educational video focused on entrepreneurship for one of my business partners. But I recently pitched them in a new opportunity, which set up an accountability program for all participants of their program. This is in line with my previous work and their mission so they are receptive to ideas.
So that’s the ACTION business idea model. You can choose one or all of these, but I highly recommend offering a review because it sets the baseline for all of your other service offerings.
Next, we will cover the promotion of your business.
Ask your network to spread the word about your business
I have interviewed hundreds entrepreneurs, and 90 percent of their first clients come from their network. So before you start posting on social media asking strangers to work with you, start with people who already know, like and trust you.
Think of 10-20 people you know who can spread the word about your new business. This includes previous coworkers, friends and relatives. Ideally, this individual will have access to relevant networks. That means they may know people or organizations that could use your services.
Then, you want to go to them and ask for their help. This is the template you start with.
Hope all is well on your end.
Reaching out to let you know that I have started a new business and I was wondering if you could help me spread the word.
In short, I help (target audience), (take this action) so they can (achieve specific results)
Do you know of a person or company that would be interested in this service? If so, I would appreciate it if you could introduce us or forward this email.
Thank you for your support!
You can send these messages via email or messaging, whichever works best for you based on your relationship.
The next step
Entrepreneurship is challenging, but it doesn’t have to be confusing. By following this process you will be able to make money, save time and avoid burnout.
If you don’t get any leads in the first seven days, I recommend reaching out to more people in your network with the same message. This is most likely how you will get your first client, so stick with it.
And I know you still have questions.
- How much should I charge?
- How do I get more people asking for my services?
- How do I keep my clients happy?
If you want help with that, consider joining my video course, The Solopreneur’s Shortcut. You’ll get answers to all these questions and more through a combination of videos, worksheets and templates.
Anyway, I wish you the best of luck!